Stronger Economy

Australia is coming back strongly from the pandemic.

We have a high vaccination rate and our public health measures and response have saved tens of thousands of lives.

Our economy is larger, we have more people in jobs than before the pandemic, and countless small businesses were saved by programs like JobKeeper.

The recent Budget showed the largest improvement to the Budget in 70 years.

But there is more to do to secure our economic recovery.

We have announced a range of measures to ease cost-of-living pressures, including an increased tax cut for low and middle income earners, a one-off cost of living payment, and a temporary cut to the fuel excise levy.

We are helping small business to grow and invest, including through a Skills and Training Boost and Technology Investment Boost which provide greater tax breaks for small businesses investing in digital technology and workforce training.

We are investing in apprenticeships and traineeships, and supporting collaboration between university and industry and supporting new technologies and modern manufacturing to spur innovation and create more jobs.

The small business tax rate is at the lowest level in 50 years, at 25%.

We are committed to maintaining the tax cap at no more than 23.9% of GDP, to impose spending discipline.

We are focused on stabilising and then reducing debt as a share of GDP, and withdrawing fiscal stimulus, so inflation is kept under control.

I believe that for Australia to succeed, we must become a more innovative and technology-oriented economy. As someone who has worked with tech and start-up companies, I will continue to argue for policies that help support and grow this sector.

I will always stand up for the 34,000 small businesses in Wentworth that employ our community and help it thrive.